NATURALGAS UPDATE | MCX | JUNE 4th - 5th
Natural Gas Update: Potential D-Cup Breakout (Informational Only)
Technical Analysis: Natural gas is exhibiting a possible D-cup formation on the chart. This pattern suggests a potential downward move followed by a bullish reversal.
Key Levels:
Resistance: 232 (potential neckline of the D-cup)
Target: 243 (potential upside breakout)
Confirmation: A breakout below 232 with increased volume would strengthen the bearish case for a fall towards the target of 243. However, waiting for confirmation is crucial before making any trading decisions.
Disclaimer:
This information is for educational purposes only and should not be considered financial advice. Technical analysis is a tool used to identify potential price movements, but it is not perfect and should not be used in isolation. Past performance is not necessarily indicative of future results. Always conduct your own research and consider incorporating other market data into your trading decisions.
Technical Analysis: Natural gas is exhibiting a possible D-cup formation on the chart. This pattern suggests a potential downward move followed by a bullish reversal.
Key Levels:
Resistance: 232 (potential neckline of the D-cup)
Target: 243 (potential upside breakout)
Confirmation: A breakout below 232 with increased volume would strengthen the bearish case for a fall towards the target of 243. However, waiting for confirmation is crucial before making any trading decisions.
Disclaimer:
This information is for educational purposes only and should not be considered financial advice. Technical analysis is a tool used to identify potential price movements, but it is not perfect and should not be used in isolation. Past performance is not necessarily indicative of future results. Always conduct your own research and consider incorporating other market data into your trading decisions.
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